Swap Futures

Get interest rate swap exposure with the margin efficiency, simplicity and safety of a standardized futures contract through the suite of Eris SOFR Swap futures products.

Get information on exchange rules, delivery procedures and clearing services. View CME Rulebook.

Eris SOFR Swap futures

Eris SOFR Swap futures are contracts that replicate all the cash flows of equivalent fixed versus floating, SOFR-indexed swaps. These contracts do not expire quarterly, but instead remain listed for the entire swap accrual period. This allows Eris SOFR Swap futures to be capital efficient, easy-to-implement hedging instruments for end users. 

Why trade Swap futures?

Easy access to transparent markets

Liquid, transparent SOFR swap markets for all futures users; no swap lines or ISDA documents.

70% lower margin than cleared swaps

Requires 60% – 70% less margin to be posted as collateral, freeing up cash.

Eligible for hedge accounting

Unique futures can be held for years like swaps, enabling FASB ASC 815 hedge accounting.

Learn about Swap futures

Find out how Swap futures can benefit your hedging needs.

Master the Swap futures market

Take self-guided courses on Swap futures

If you’re new to futures, the courses below can help you quickly understand the Swap futures market and start trading today.

Contact a Swap futures expert

Connect with a member of our expert Interest Rates product team to get more information about our Swap futures products, find a broker or connect with a liquidity provider.

CME Group is the world’s leading derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). 
Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.

© 2024 CME Group Inc. All rights reserved.